Lyft price target lowered to $18 from $23 at Truist

Truist lowered the firm’s price target on Lyft (LYFT) to $18 from $23 and keeps a Hold rating on the shares. The company’s inline Q4 results reflect continued improvements in the underlying health of the marketplace driven by enhancements to the UX, new product initiatives, M&A and a growing portfolio of partnerships, though a higher promotional environment drove a slowdown in rides’ growth, the analyst tells investors in a research note.